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Job openings lowest since early 2021; number of quits plunges

August 29, 2023

The number of job openings and quits fell in July, according to seasonally adjusted data released Aug. 29 by the US Bureau of Labor Statistics.

Job openings fell by 338,000 in July, marking the third straight month of declines, and are below 9 million for the first time since March 2021, according to BLS data. Job numbers totaled approximately 8.8 million in July.

The 338,000 represents the net loss in job openings. Job openings fell in some segments; for example, they were down by 198,000 in “professional and business services,” a category that includes the staffing industry, as well as by 130,000 in “healthcare and social assistance.” However, they rose by 101,000 in “information.”

Also included in the BLS report is separations, which fell by 208,000 in July. The decrease was driven by the number of quits — or voluntary separations by employees — which fell by 253,000 month over month in July.

The of layoffs and discharges — another portion of quits — rose by 4,000.

“Both declines [in openings and quits] point to cooling labor market conditions, which will come as a relief to many employers but bring back many of the old challenges that have characterized job search for decades,” Julia Pollak, chief economist at ZipRecruiter, told CNN.